buyers today, sellers tomorrow: 8 key consumer changes that must drive your marketing strategy
TRANSCRIPT
Buyers Today, Sellers Tomorrow: Eight Key Consumer Changes
that MUST Drive Your Marketing Strategy
Nikesh ParekhMarket Leader
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Buyers Today Sellers Tomorrow
Phone Interviews with
400 BUYERS & SELLERS
IN 2004 & 2012
Conducted By Third Party
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2,500 Recent Agent Surveyed
2,423 Real Estate Agent
Surveys in 2013
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And … the Results(drum roll please)
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77
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Family Changes Still Drive Home Buying & SellingWeddings, Babies, Schools, Divorce
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So Do Bigger Houses & Better Neighborhoods“Did you see their play room?”
10*Pew Research Center, December 29, 2010
“Retirement” Is the Fastest Growing Seller Reason
10,000 Boomers
Retiring Per Day for 19
Years*
• Job retirement• Health issues• Weather• Stairs• Grandkids
1111*NAHREP, 2011
In 2020, 80% of New Home Buyers Will Be Minorities*
50% of New Buyers will be Hispanic*
But, Most Consumers are Worried About Real Estate
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Move-Up Home Sellers Declining*
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Consumers Less Willing to Relocate for Job
Not a Safe Investment Anymore?
Low Cost, Low Tax
From East & West
To Center &
South
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What Hasn’t Changed?
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Real Estate is NOT An Impulse Purchase
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Buyers & Sellers Are Researching For 15+ Months …Before Contacting An Agent
2020
Buyers & Sellers Are Researching For 15+ Months …Before Contacting An Agent
TWICE As Long Compared to 2004
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Now, Consumers Have ALL the Information
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In 2004, Sellers Primarily Used Realtors
In 2012, Sellers Consult Realtors & Internet Equally
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Buyers Primarily Consult the Internet in 2012
Consumers Visiting Many, Diverse Real Estate Web Sites
But Using 80% Fewer Sites Than in 2004
54%51% 50%
45%
31%28%
12%
Agent Web Site Local MLS Zillow Realtor.com Trulia RealEstate.com Homes.com
Agents & MLS Have A Slight Edge with Sellers
53%
42%
54%
44%41%
18%15%
Agent Web Site Local MLS Zillow Realtor.com Trulia RealEstate.com Homes.com
But Losing Ground with Buyers
Mobile is Big & Growing
12% of Sellers
25% of Buyers
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YET, Consumers Are Spending LESS TIME Researching & Selecting An Agent
15+ Months of Research …
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Sellers are Spending 30% Less Time Selecting An Agent
In 2012 vs 2004
1 DayResearching
Agents
458 DayResearching
Homes
63% of Consumers Interview & Select an Agent in Less Than One Day
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Majority of Consumers Select First Agent Interviewed
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AND Repeat Home Buyers & Sellers Select An Agent 4X Faster
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How To Adapt Your Marketing Strategy?
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1. One Word…
Demographics
1. Pick A Niche
• 6.5m Hispanic Home Owners
• 4m Newly Weds
• 4m Babies Born
• 2.7m Asian Home Owners
Age 21-24 65+
Trigger Family Retirement
Time to engage
agent8x faster 2x slower
Age Drives Seller Behavior
Seniors Require More Planning & Patience
• Market senior friendly features
• Consultative sale / high touch
• Build trust
• Offer services like inspection & staging
• Compile resources on assisted living
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2. Pick Your “Channel”
Buyers & Sellers Are Using Multiple SitesWeb, Social & Mobile
Your Web Site
• Realtor.com
• Zillow
• Trulia
• RealEstate.com
• ActiveRain
• Homes.com
Direct Mail Offers Greater Targeting
• Seniors
• Newly Weds
• New Mothers
• Renters
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3. Create A Unique Content Strategy
Target Keywords With Your Blog
• Pick a local keyword phrases based on your niche
• Write hyperlocal content on your blog
• Share with your social networks
– ActiveRain
– Google+
Search Widget Back to IDX Web
Site
Local How-ToLocal Lists
Market ReportsLocal Reviews
Time Sensitive
Engage in Social Media
• Google Yourself
• Optimize Profile Pages
– Google Plus, FaceBook, LinkedIn
– ActiveRain
– Trulia, Zillow, & Realtor
• Link back to your IDX web site
• Add testimonials & reviews
4. Think Long Term
Can’t Force Buying or Selling Before They Are Ready
No Silver Bullets
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5. Be First
Consumers Select the First Agent in One Day When They Are Ready
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6. Stay In Touch Over 12-18 months
Use a powerful CRM & email marketing
solution
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7. Listen Closely
Use killer analytics to separate buyers from browsers
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8. Get Mobile
Real Estate is Inherently
Mobile
Your Children Will Not Know
What A “Computer” Is
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1. Pick A Niche
2. Pick Your “Channel”
3. Create A Unique Content Strategy
4. Think Long Term
5. Be First
6. Stay In Touch Over 12-18 months
7. Listen Closely
8. Get Mobile
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Accomplish more with just one real estate solution
Market Leader customers earn more than twice (2X!) the median income of a typical NAR memberusing our:
Nikesh [email protected]
visit the Market Leader booth 529
• Websites
• Contact management
• Lead generation
• Marketing center
• Education
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Eight Key Consumer Changesthat MUST Drive Your Marketing Strategy